New media platforms for new opportunities affect the prospects of brand values, how they build relationships with customers/investors/partners, the general approach to business, and the introduction of new products to the market.

According to Statista, the total amount of data created, distributed, copied, and consumed in the world in 2020, reached 59 zettabytes. Forecasts predicted the figure to increase to 74 zettabytes in 2021.

It means growing competition in the online info space. The number of forms, platforms and methods of content distribution will increase. The main point to consider is that automatic tracking of brand mentions will be a profitable investment for businesses in turbulent data flow, which will grow and accumulate annually. 

Why use media monitoring? Check out these reasons and switch to the dark side.

1. Create content that users will love.

‍Stackla’s research data shows that 92% of marketing professionals believe that most or all the content they create appeals to consumers. On the contrary, 51% of consumers say less than half of brands create content they like.

What consumers and markets think about interesting and compelling content differs significantly. This discrepancy harms feedback and affects budgets that fail to deliver the expected results.

However, media monitoring allows you to find out what type of content attracts your customers and what resources they ignore. Based on the received data, media monitoring helps you:

• create a list of the most active sites with mentions containing your keywords and use them in further work;
• understanding the type of information that drives and causes a positive reaction and the one people ignore;
• build lasting relationships, gain attention, and win the trust of your customers.

2. Analyze competitors.

By knowing your industry niche and its major players, you can learn from best practices and avoid mistakes. What you gain from monitoring the media of your competitors:

• Understanding how your audience perceives your competitors. Your audience is yours only partially, which is fine because you can use this knowledge to get a head start over your competition.
• Knowing potential competitors that you previously ignored or overlooked. Media monitoring data often discover new players whose positions have previously been underestimated. It helps navigate the market infrastructure and objectively assess yourself and your competitors.
• Navigating competitors’ media landscape. You get a master view of resources your competitors use to publish, their key messages, and the information projects they join.

3. Tracking customer feedback and reactions.

Consumer insights are interpretations used by businesses to understand their customers better. Media monitoring tools like LOOQME Hub help:

• understand audience thoughts and feelings;
• navigate customer needs;
• make strategic decisions;
• track all public mentions of your brand;
• improve your response and grasp the core of customer feedback.

4. Brand reputation audit.

A reputation audit is the starting point for working on the company's reputation offline and online. It is necessary to build and increase its reach, change the brand positioning in the market, and improve interaction with partners/investors/customers.

‍Reputation audit process based on media monitoring analyses:

• peaks in the total number of brand mentions;
• sentiment range of mentions;
• most effective sources of mentions;
• most important criteria for evaluating a product or service according to the brand's audience;
• brand supporters and haters.

A reputation audit is a more reliable source of brand data than surveys and focus groups because it taps into the unfiltered opinions of a brand's audience. Feel free to contact us if you need an expert opinion on how media monitoring can help your particular brand.